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DFW Third Quarter Home Sales Drop; Inventory on the Rise

Third quarter numbers are in and DFW was the only major market in Texas that saw a drop in home sales. Despite the year-over-year decline, however, Dallas-Fort Worth still had the largest number of pre-owned property sales in Texas, tallying 27,660 for the quarter.

Continuing a familiar trend, median home sales prices increased again in the third quarter, this time jumping by 3.9 percent to $265,034.

The good news for buyers, though, is that the rate at which prices are increasing seems to be slowing, and more options are also becoming available for buyers to consider, which should help level home prices even further.

Dallas-Fort Worth had the largest increase in inventory of any of the major metros in the Lone Star State during the third quarter with active listings up over 14 percent from this same time last year.

Among the largest markets in Texas, Houston saw the biggest jump in third quarter sales, increasing by 11.6 percent compared to last year.